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The amount of heterogeneous data that is available to organizations nowadays has made information management a seriously complicated task, yet crucial since this data can be a valuable asset for business intelligence. Ontologies can act as a semantically rich knowledge base in systems that specialize in information management. The present work investigates the potential of ontologies in supporting the information lifecycle within a corporate environment for business intelligence. The paper demonstrates the use of Heraclitus II, a framework that employs ontology management and evolution in the context of information management systems. The capabilities of the framework in facilitating information management and business intelligence are evaluated through a real-life case study from the life sciences industry.